Hoopos.com: Anything and everything for kids | SupportBiz

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Hoopos.com: Anything and everything for kids

 
Vijay Jumani, founder and CEO of Hoopos.com, believes that the internet is now becoming a preferred destination for shoppers. He feels that people are increasingly getting attracted to the online medium because of the ease in shopping that it offers.

In an exclusive interaction with SupportBiz, Jumani shared insights into the rising preference for online shopping, offered an overview of his market, and shared his experience as an entrepreneur with a diverse experience ranging from conventional retail to the online version. Edited excerpts from the interview:

What is the core market focus for Hoopos.com?

We offer product categories for kids from the age of 0 to 6. We also stock products for mothers.

Hoopos.com was founded in January 2011 by a four-member team of experts with retail and e-commerce backgrounds. Our sole objective is to become the most preferred destination for any product for babies, kids and moms-to-be. We went live in September 2011. We now offer products across 13 different categories, ranging from apparel and baby essentials to traditional toys and even furniture for kids. From the product portfolio perspective, we have over 20,000 products across 350 brands, including well established Indian and international brands like Funskool, Disney and Fisher Price. The company is funded by Helion Venture Partners.

How was your experience as an entrepreneur who witnessed a shift from conventional retail to online retail?

The experience was very exciting. Almost seven years back, we opened our first retail store by the name of 'Apple of My Eye’ in Bangalore, with an area of 5,000 sq ft. We now have three such stores in Bangalore, all are doing very well from the business perspective. Now, the purpose of focusing on online retail is to increase our market coverage. Also, being online gives one the great advantage of accessing the market in a cost-effective manner.

Please tell us about your market coverage.

We are covering a great portion of the market in India. As of now, we cover around 8,000 pin codes across India. This figure shows our in-depth product delivery capability. We are targeting the top eight cities in India as of now, but we are getting a very good response from smaller towns too. Our revenue percentage break-up shows that Tier-2 and Tier-3 cities are catching up.

What are the key trends you are presently witnessing in your business segment?

We have been witnessing that people come for online shopping mainly because of the convenience it offers them.

Secondly, customers from Tier-2 cities are also showing a great interest towards new products which are not easily accessible to them.

Logistics companies are coming up with customized solutions for online companies. Customers are gaining trust in online retail. So, the trend is moving in a very positive direction.

Please share you plans for further expansion.

We have almost 50,000 customers across India. We expect this figure to go up to 2 lakhs in the next one year. As of now, we are focusing on the top eight cities of the country. Moving forward, we expect more action in Tier-2 and Tier-3 cities.